Corient Private Wealth LP Boosts Stock Position in Copa Holdings, S.A. $CPA

Key Points

• Corient Private Wealth LP increased its Copa Holdings stake by 243.2% in the second quarter, bringing its holdings to 31,232 shares valued at approximately $4.86 million. Institutional investors collectively own 70.09% of the airline’s stock.
• Copa reported quarterly revenue of $1.06 billion, up 25.7% year over year, but earnings of $1.67 per share fell short of analyst expectations of $1.88. Analysts expect the company to generate $15.22 in EPS for the full year.
• The company paid a quarterly dividend of $1.71, equivalent to an annualized $6.84 and a 5.2% yield. Analysts maintain a consensus “Buy” rating with an average price target of $172.20, compared with a recent share price of $132.

Corient Private Wealth LP increased its position in Copa Holdings, S.A. (NYSE:CPA - Free Report) by 243.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,232 shares of the transportation company's stock after acquiring an additional 22,132 shares during the quarter. Corient Private Wealth LP owned about 0.08% of Copa worth $4,859,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC lifted its holdings in Copa by 240.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 167 shares of the transportation company's stock worth $26,000 after purchasing an additional 118 shares in the last quarter. Hilton Head Capital Partners LLC purchased a new stake in shares of Copa during the 4th quarter worth approximately $27,000. SJS Investment Consulting Inc. boosted its position in shares of Copa by 284.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 292 shares of the transportation company's stock valued at $33,000 after acquiring an additional 216 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of Copa by 196.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 450 shares of the transportation company's stock valued at $54,000 after acquiring an additional 298 shares during the last quarter. Finally, Triumph Capital Management grew its holdings in shares of Copa by 26.7% in the second quarter. Triumph Capital Management now owns 570 shares of the transportation company's stock valued at $89,000 after purchasing an additional 120 shares in the last quarter. Institutional investors own 70.09% of the company's stock.

Copa Stock Up 0.7%

NYSE:CPA opened at $132.00 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.97 and a debt-to-equity ratio of 0.72. The company's 50 day moving average is $135.25 and its two-hundred day moving average is $131.55. Copa Holdings, S.A. has a twelve month low of $107.44 and a twelve month high of $160.46. The company has a market cap of $5.43 billion, a PE ratio of 8.68, a P/E/G ratio of 1.22 and a beta of 0.99.

Copa (NYSE:CPA - Get Free Report) last issued its earnings results on Saturday, August 8th. The transportation company reported $1.67 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.88 by ($0.21). Copa had a return on equity of 22.40% and a net margin of 15.71%.The firm had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.08 billion. During the same quarter last year, the business earned $3.61 EPS. The business's revenue was up 25.7% on a year-over-year basis. Analysts anticipate that Copa Holdings, S.A. will post 15.22 EPS for the current year.

Copa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend was Monday, August 31st. Copa's dividend payout ratio is 44.97%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. upped their price objective on Copa from $165.00 to $170.00 and gave the company an "overweight" rating in a research report on Wednesday, June 3rd. Jefferies Financial Group initiated coverage on Copa in a report on Thursday, June 18th. They set a "buy" rating and a $185.00 price target on the stock. Wall Street Zen downgraded Copa from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Weiss Ratings restated a "buy (b)" rating on shares of Copa in a research report on Tuesday, August 11th. Finally, Raymond James Financial dropped their price objective on shares of Copa from $195.00 to $185.00 and set a "strong-buy" rating for the company in a research note on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $172.20.

About Copa

Copa Holdings, SA is a Panama-based airline holding company whose principal subsidiary is Compañía Panameña de Aviación, SA, known as Copa Airlines. The company provides scheduled passenger air transportation, connecting Panama and other destinations across North, Central and South America and the Caribbean. Copa also offers related cargo transportation services.

Copa Airlines operates its primary hub at Tocumen International Airport in Panama City, which serves as a connecting point for travel throughout the Americas.

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